New economic impact analysis by the Scottish Government has confirmed that the best way to protect the local economy and household incomes in Inverclyde is through Scotland remaining in the Single Market and Customs Union.
Failure by the Tory government to secure a Brexit deal would see Scotland take a £12.7 billion economic hit, equivalent to £2,300 per year for each person in Inverclyde. The analysis also shows that a ‘Canada-type’ deal with the EU, with limited access to the Single Market, would still leave people in Inverclyde £1,610 worse off per head.
Other key findings show that remaining in the Single Market could create new opportunities for the local economy in Inverclyde to flourish, and that continued freedom of movement is required to support economic growth. Figures show that EU citizens currently working in Inverclyde currently contribute an average of £10,400 in tax revenues.